Lombard Odier Asset Management Europe Ltd Sells 46,997 Shares of Trex Company, Inc. $TREX

Lombard Odier Asset Management Europe Ltd lowered its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 79.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,972 shares of the construction company’s stock after selling 46,997 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Trex were worth $436,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in Trex in the 4th quarter worth approximately $27,000. Clearstead Trust LLC purchased a new stake in Trex during the 4th quarter valued at approximately $33,000. Ascentis Independent Advisors bought a new stake in shares of Trex during the first quarter valued at approximately $44,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Trex during the fourth quarter valued at approximately $47,000. Finally, Empowered Funds LLC bought a new stake in shares of Trex during the fourth quarter valued at approximately $50,000. Institutional investors own 95.96% of the company’s stock.

Trex Stock Performance

TREX stock opened at $44.69 on Tuesday. The firm has a fifty day moving average price of $44.93 and a 200 day moving average price of $41.78. Trex Company, Inc. has a fifty-two week low of $29.77 and a fifty-two week high of $66.36. The firm has a market cap of $4.64 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 4.98 and a beta of 1.48.

Trex (NYSE:TREX) last released its quarterly earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. Trex had a net margin of 16.25% and a return on equity of 19.66%. The company had revenue of $343.40 million for the quarter, compared to the consensus estimate of $339.99 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Trex’s revenue was up 1.0% on a year-over-year basis. On average, equities analysts predict that Trex Company, Inc. will post 1.78 EPS for the current year.

Insider Buying and Selling at Trex

In other news, SVP Jacob T. Rudolph sold 1,400 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $50.00, for a total transaction of $70,000.00. Following the sale, the senior vice president directly owned 36,631 shares in the company, valued at approximately $1,831,550. This represents a 3.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TREX has been the subject of a number of research reports. UBS Group restated a “buy” rating and set a $61.00 target price (up from $59.00) on shares of Trex in a research report on Tuesday, July 14th. DA Davidson reiterated a “buy” rating and issued a $55.00 price target on shares of Trex in a report on Tuesday, July 14th. Barclays reiterated an “underweight” rating and issued a $42.00 price target (up from $36.00) on shares of Trex in a research note on Tuesday, July 14th. Stephens increased their price objective on shares of Trex from $45.00 to $50.00 and gave the company an “equal weight” rating in a report on Tuesday, July 28th. Finally, Truist Financial raised their price objective on Trex from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $49.15.

Trex Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.